Demand and volumenegative · 6 filings
“The increase in the number of net contracts signed in the fiscal 2026 periods was primarily due to improving demand and an increase in the average number of selling communities.”10-Q · Aug 28, 2026 ↗
Toll Brothers, Inc.
TOL
Market read
Toll Brothers, Inc.'s current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 41 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 0 directly disclosed connections are confirming.
P/E10.8xlatest annual facts
Revenue YoY+1.1%2025-10-31
Operating margin15.7%-3.1 pts YoY
Company+1.9% todayVolume comparison unavailable
Market group0 of 41 activeHomebuilding & Building Products · unavailable
Disclosed network0 of 6 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- Net contracts signed increased as management cited improving demand and more selling communities, even as nine-month revenue declined.
- Average delivered-home prices increased primarily because of mix, while mix shifts raised home-sales cost as a percentage of revenue.
Invalidation: The isolated read changes if TOL's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 41 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 0 directly disclosed connections are confirming.
Evidence that supports
No thresholded supportive filing evidence is available yet.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- Net contracts signed increased as management cited improving demand and more selling communities, even as nine-month revenue declined.
- Average delivered-home prices increased primarily because of mix, while mix shifts raised home-sales cost as a percentage of revenue.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations328
Usable filing statements273
Verified relationships0
Evidence supporting the case
No qualifying supportive evidence was identified.
Evidence challenging the case
- Operating margin changed -3.1 percentage points in the latest annual period.
- Net margin changed -2.2 percentage points in the latest annual period.
- Demand and volume has repeated adverse evidence across 6 filings.
- Restructuring and cost reductions has repeated adverse evidence across 6 filings.
Questions before a position
No credible peer-relative valuation comparison is available yet.
Longer-term price context
Price as of Sep 11, 2026
134.946m-2.2%12m-5.8%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2021-10-31$8.8B+24.2%$6.63-4.1%
2022-10-31$10.3B+16.9%$10.90-6.2%
2023-10-31$10.0B-2.7%$12.36-5.9%
2024-10-31$10.8B+8.5%$15.01-5.7%
2025-10-31$11.0B+1.1%$13.49-4.7%
What management says matters
Persistent and emerging business drivers
Restructuring and cost reductionsmixed · 6 filings
“The reduction in loss before income taxes in the fiscal 2026 period was principally due to higher income from ancillary businesses, lower losses from unconsolidated entities primarily due to the sale of approximately half of our Apartment Living portfolio, of…”10-Q · Aug 28, 2026 ↗
Credit and interest ratesnegative · 3 filings
“The decrease in home sales costs of revenues, as a percentage of home sale revenues, was primarily due to a shift in the mix of homes delivered in higher-margin areas/products and lower interest expense as a percentage of home sales revenue.”10-K · Dec 19, 2025 ↗
Input and raw-material costsnegative · 1 filings
“The increase in the loss before income taxes in fiscal 2025 was principally due to higher SG&A costs and a decrease in other income - net, partially offset by lower losses from unconsolidated entities and lower gross margin from land sales.”10-K · Dec 19, 2025 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 1.2× · EV/sales 1.1×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
134.94+1.9% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for TOL. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for TOL. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind TOL
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 6 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
TOL is currently a Early Follower in the organic co-movement group Homebuilding & Building Products. This group is discovered from market behaviour rather than assigned from an industry taxonomy. No verified filing-linked names are available yet.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.